Austin Firm Buys 5 Acres at La Frontera

ROUND ROCK, TX-Partnerships associated with Austin’s Live Oak Development has snagged a key five-acre tract at La Frontera and set it aside for a future office building. The deal for the property at the southwest corner of La Frontera Boulevard and Sundance Parkway closed last week, partners with seller La Frontera confirmed.

The project has zoning approval in hand and plans call for a 175,000-sf, five-story building with a parking garage. STG Partners, an Austin architectural firm, has designed the building. The building would face the new frontage roads for State Highway 45, expected to open beginning next month. La Frontera Boulevard will become the northern extension of FM 1325.

The site is immediately west of 301 Sundance, a 198,000-sf speculative office building and parking garage developed by Austin-based Kennedy-Wilson. Work on that building will wrap up in the 2002 first quarter. The other office building at the development is the three-phase 200,000-sf Summit at La Frontera project by San Antonio-based Koontz-McCombs. The 80,000-sf first phase has been completed.

Besides the office buildings, the 329-acre La Frontera has more than 1 million sf of retail tenants, a 300-room Marriott Hotel and two apartment complexes.

Live Oak will wrap up its Mira Vista office project in the southwest Austin submarket in the first quarter. The 125,000-sf office building overlooks Bee Cave Road just west of MoPac Expressway. About half the building has been leased to Carter & Burgess, the Fort Worth-based engineering consultant.

Other Live Oak office projects in the Austin area include the Overlook, a 51,725-sf in the southwest submarket that overlooks the Barton Creek Greenbelt and the 18,000-sf building that houses Del Webb’s administrative offices at Sun City Texas in Georgetown.